A last-minute boost of funding from the provincial government has helped the College of New Caledonia (CNC) board of governors pass a budget yesterday afternoon with a small surplus without increasing tuition fees or making significant cuts to programs.
Four months ago, board members had been bracing themselves to deal with a $1.85-million shortfall but the situation took a turn for the better in late March when the provincial government provided $600,000 in additional funding.
One time grants of $442,000 and $154,000 were provided to offset the cost of trades training and health education equipment . The grants were released at the end of the provincial government's fiscal year and will be attributed to CNC's 2011-12 budget.
The grants, combined with about $600,000 in additional revenues and a further $600,000 in cost cutting meant the board passed a budget with featuring a $116,788 surplus.
"It was pennies from heaven," said board chair Ray Gerow of the provincial government's grant. "It delays having to make any of those hard decisions and gives us a chance to talk."
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